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Oracle 1z0-1054-24 Exam Syllabus Topics:

Topic	Details
Topic 1	Managing Period Close Components: This section of the exam measures the skills of a Financial Consultant and covers activities necessary to complete a successful period close. It explains managing revaluations, translations, and consolidations, handling reconciliations, configuring the Close Monitor to track period close status, and creating allocations and periodic journal entries needed for finalizing accounting records.
Topic 2	Configuring Enterprise and Financial Reporting Structures: This section of the exam measures the skills of an Implementation Consultant and covers the setup of enterprise structures necessary for financial reporting. It includes configuring the chart of accounts, setting up account hierarchies, managing accounting calendars, securing chart of accounts segments, and handling legal jurisdictions, authorities, legal entities, geographies, and currencies to support an organization's financial operations.
Topic 3	Configuring Ledgers: This section of the exam measures the skills of an Implementation Consultant and focuses on setting up and maintaining ledgers. It explains managing ledger configurations, understanding the General Ledger balances cube for reporting purposes, and applying security controls to protect ledger data and ensure proper access management.
Topic 4	Processing Journals: This section of the exam measures the skills of a Financial Consultant and covers the processes involved in capturing and managing journals. It explains how to configure journal approval workflows, outlines methods for entering journals, discusses average daily balance processing, and details the configuration and processing of intercompany transactions.
Topic 5	Using Financial Reporting: This section of the exam measures the skills of an Implementation Consultant and covers the use of financial reporting tools in Oracle Financials Cloud. It explains how to work with the Financial Reporting Center, create and manage reports using Financial Reporting Web Studio, use Oracle Transactional Business Intelligence (OTBI), leverage Smart View for reporting, and utilize the General Accounting Dashboard. It also describes analyzing budgets versus actuals with these tools.

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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q26-Q31):

NEW QUESTION # 26
You already ranTranslation, but a last-minuteadjusting journal entryin yourledger currencywas entered after you consolidated your results.
What does Oracle considerbest practicewhen this occurs?

A. Rerun Revaluation and then rerun Translation.
B. Translate only the adjusting journal entry.
C. Rerun Translation and then reconsolidate your results.
D. Enter another adjusting journal entry in the target currency to true up the balances.

Answer: C

NEW QUESTION # 27
Which two statements are true if a journal description rule is defined with sources?

A. The description rule can only be assigned to the header or line level.
B. The description rule can only be assigned to the journal line level.
C. The description rule may be assigned to either the header or line level, or to both.
D. You cannot assign journal description rules to sources.
E. The sources must also be assigned to the accounting event class that is assigned to the journal entry rule set.

Answer: C,E

NEW QUESTION # 28
Which two statements are true about the Intercompany Reconciliation report?

A. It can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
B. It displays the intercompany receivables and intercompany payables balances in summary for a period.
C. It displays all clearing company balancing lines for a period.
D. You can only drill down to the General Ledger journal and then from there to the Subledger journal entry.
E. It includes ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.

Answer: A,B

Explanation:
The Intercompany Reconciliation report is a tool that helps you reconcile your intercompany transactions and identify any discrepancies between the provider and receiver sides. The report shows the entered or transaction amount of the accounting entries booked to the intercompany receivables and payables accounts for a pair of provider and receiver legal entities. The accounted amounts may be different when the conversion rates used for the intercompany receivables and payables are different. Therefore, you can run the report using an additional currency and conversion rate that converts all amounts into a common currency for comparison. This option helps you manage the currency risk and the conversion rate fluctuations for intercompany transactions. The report also displays the intercompany receivables and payables balances in summary for a period, and any differences between them. You can drill down on the links to view the balances by source and then by journal lines. You have full drill-down capabilities to the general ledger journal, subledger accounting entry, and source receivables or payables transaction. References:
* Intercompany Reconciliation
* Intercompany Reconciliation Reports

NEW QUESTION # 29
You are capturing rental costs for a building in a corporate cost center. At month end, you want to allocate those costs to the cost centers in the building based on the floor area occupied. A statistical journal has been entered to record the floor area. You use Calculation Manager to create the allocation.
Where do you reference the statistical balance within the allocation component?

A. Allocation Range
B. Target
C. Offset
D. Basis
E. Source

Answer: E

Explanation:
The source is where you specify the amount to be allocated. You can use various sources, such as account balances, fixed amounts, or statistical balances. In this case, you want to use the statistical balance of the floor area as the source of the allocation. The basis is where you specify the driver or factor that determines how the source amount is distributed among the targets. The target is where you specify the destination accounts that receive the allocated amount. The offset is where you specify the account that records the opposite side of the allocation entry. The allocation range is where you specify the scope of the allocation, such as the ledger, balancing segment, or legal entity. References:
* Oracle Financials Cloud Implementing Enterprise Structures and General Ledger, Chapter 3:
Allocations and Periodic Entries, Allocation Components
* Oracle Financials Cloud Using General Ledger, Chapter 3: Allocations and Periodic Entries, Overview

NEW QUESTION # 30
What type ofusermust be defined before you can create anImplementation Project?

A. Implementation Users
B. None. The Fusion Applications Superuser, FAADMIN, has full access to create an Implementation Project.
C. All roles that will be used throughout the implementation
D. A full-time employee that has the FSM Superuser role assigned
E. None. The OIM system administrator user ID, XELSYSADM, which is assigned by the person provisioning the system, has full access.

Answer: B

NEW QUESTION # 31
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1z0-1054-24 Exam Cram - Regualer 1z0-1054-24 Update

Oracle 1z0-1054-24 Exam Syllabus Topics:

100% Pass Quiz Oracle - High Hit-Rate 1z0-1054-24 Exam Cram

Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q26-Q31):

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